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SPONSOR: | Maes | DATE TYPED: | 02/22/99 | HB | |||
SHORT TITLE: | Retain Economic Development Specialists | SB | 625 | ||||
ANALYST: | Hadwiger |
Recurring
or Non-Rec |
Fund
Affected | ||||
FY99 | FY2000 | FY99 | FY2000 | ||
$ 2,650.0 | Rec. | GF |
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
LFC Files
Economic Development Department (EDD)
SUMMARY
Synopsis of Bill
The bill would appropriate $2.65 million general fund in FY2000 to the Economic Development Department (EDD) for the following purposes:
Unexpended balances would revert to the general fund at the end of FY2000.
Significant Issues
This bill addresses three general priorities of economic developers in New Mexico: increasing funds for economic development advertising, promoting rural economic development and providing research funds to help counties identify strengths and weaknesses in the economic development packages that they offer to companies considering relocating to New Mexico.
According to EDD, the funds proposed for advertising, cooperative advertising, county inventory development, and trade shows would be useful in accomplishing the goals of that agency.
The proposed funds for economic development specialists were not supported by EDD, because the selection process would be cumbersome and not performance based. The EDD has implemented a results based program through its participation in Quality New Mexico. This would be a duplication of efforts. EDD has already assembled teams to provide the services of the proposed ten economic development specialists.
DH/gm